0 bed Block of flats (for sale) Tordoff Chambers, Bradford BD1

£725,000
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Vesta Property
29 Charlotte Road, London
020 8115 4124
First Published

19th Jul 2018

Last Published

21st Sep 2018

 

Features

  • Type: Block of flats
  • Bedrooms: 0
  • Listing status: sale
  • Country: England

Description

Key Features
* Tenanted investment portfolio
* 6.82% aggregate gross rental yield
* £55,320 aggregate rent per annum
* 25.48% hpi growth (last 5 years)
* 10 leasehold apartments
* Freehold for the entire block (17 apartments)

Example Property Features
* Fitted kitchen with integrated appliances
* Open plan kitchen/diner

Full description:

An opportunity to purchase 10 tenanted income generating units in a residential apartment block plus the Freehold for the entire block in Bradford.

This property is located in Bradford, West Yorkshire. Bradford is in the moorland region called the South Pennines, situated about 8.6 miles west of Leeds and 16 miles northwest of Wakefield.
Bradford has an impressive history and this is reflected in the striking architecture found throughout the city. It was once considered to be the wool capital of the world and is now proud to be the first ever unesco City of Film. Bradford is also a cultural city with a flourishing arts scene, fascinating exhibitions and beautiful theatres. There are attractions such as the National Science and Media Museum, Cartwright Hall and Impressions Gallery.

A ten-year plan to drive forward regeneration in Bradford city centre has been unveiled by Council bosses. A new film production hub for the city, better road and rail links and the ‘reinvention’ of the Thornton Road university and college area are all on the cards over the next decade. The Bradford City Plan also brings together much-publicised plans for a redeveloped Odeon, a refurbished St George’s Hall, a new city-centre pool and a retail academy.

A number of major companies have their headquarters in the city including Morrisons, Provident Financial, Yorkshire Building Society and Hallmark Cards. This includes two ftse 100 companies, more than any other city in the Northern Powerhouse.

Portfolio Overview:

* Total No. Of Units: 10 x apartments (6 x 1 bed; 4 x 2 bed)
* Total price: £725,000
* Aggregate rent: £4,610 pcm; £55,320 pa
* Tenancy types: ASTs
* Aggregate gross yield: 7.6%

Freehold Overview:

* Total No. Of Units: 17
* Total price: £85,000
* We have been advised that the annual ground rent for each of the 17 units amounts to £250 i.E. A total annual income of £4,250
* Length of leases: 125 years started 2015

Vesta ref no. VBD12AQ-239; VBD12AQ-240; VBD12AQ-241; VBD12AQ-242; VBD12AQ-243; VBD12AQ-244; VBD12AQ-245; VBD12AQ-247; VBD12AQ-248; VBD12AQ-249

Please note that prospective buyers will be required to pay a fee of £900 per unit to Vesta upon acceptance of an offer on this property. The seller of the property will also pay a fee to Vesta.

 

Local info for BD1

Floor plan

 

Property Value Data/Graphs for BD1

Property Type % Avg. current value Avg. # beds Avg. # bathrooms
Flat 84.5% £66,572 1.4 1
Studio 13.2% £42,148 0.2 0.8
Terraced house 0.9% £174,975 5 0.5
Land 0.5% £500,000 0 0
Other 0.5% £15,000 1 1
Block of flats 0.5% £45,000 0 0

Area Information

Average Price Paid

£67,284

Sales

247

Current Average Value

£65,976

Value Change

£1,308 2%

 

Current Asking Prices in BD1 Average: £65,976

Property Type 1 Bed 2 Beds 3 Beds 4 Beds 5 Beds
Houses £38,992 (6) - - £150,000 (1) -
Flats £64,355 (124) £69,041 (59) £104,998 (2) £119,000 (1) -
All £63,184 (130) £69,041 (59) £104,998 (2) £134,500 (2) -

Nearby Properties

3 bed Terraced house () Cardigan Street, Queensbury, Bradford BD13 £82,500
2 bed Semi-detached house () Mayo Drive, Bradford BD5 £120,000
2 bed Terraced house () Cobden Street, Allerton BD15 £55,000
3 bed Semi-detached house () Wingate Way, Keighley BD22 £179,950
3 bed Semi-detached house () Wingate Way, Keighley BD22 £179,950
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